Homeowners facing financial hardship may be able opt for loans to stop foreclosure. These loans, also known as foreclosure loans, will provide the homeowner with a new, restructured loan that will be affordable, or at least more affordable than the original loan. If financed by a company other than your lender, this loan would take the place of your original loan, by first purchasing the original loan and then incorporating itself on as the mortgage. To prevent the foreclosure from taking place again, the new loan will usually have improved terms, such as a decreased interest rate or a longer overall loan. In the United States, these loans can be provided through a range of programs,which are generally sponsored by federal funded programs and lenders. However, these loans are not offered to everyone. Only those who qualify as responsible, financially able borrowers will be eligible for loans through these programs.